While, the MEP dollar or Stock Exchange -also valued with the Global 2030- yielded 0.3% to $190.33so the exchange rate gap was reduced by 69.4%.
During the day, these financial exchange rates even operated below $190, although after the INDEC announced that retail prices rose 6.7% in March -their highest level since April 2002- they cut their variation negative.
“After the harsh inflation data (…) operators began to wait for a new rise in the BCRA rate, in search of improving the attractiveness of placements in pesos, encouraging the liquidation of exporters and aligning it with the strategy of gradual acceleration in the ¨crawling-peg¨, said Gustavo Ber from Estudio Ber.
In this context, CER (inflation-adjusted) bonds are the main winners. Among the different alternatives of these instruments, the Boncer 2023 (TX23) stands out “despite the proximity of its expiration”, reinforced from Cohen.
Financial exchange rates continue to appreciate substantially since the end of January and are currently “at a level similar to that observed between August 2019 and March 2020, that is, the period between PASO 2019 and the beginning of the strict quarantine by COVID-19”commented from Delphos Investment.
The Central Bank was discussing this afternoon a possible rise in the interest rate to deal with the escalation in the March price index.
official dollar
To meet the demand of importers, the Central Bank (BCRA) had to sell more than US$30 million this Wednesday, which represents the first negative balance in 7 days in its daily interventions in the foreign exchange market.
The increase in demand forced a change in the purchasing trend exhibited by the monetary authority and reduced the positive balance for the month, which now stands at approximately US$14 million in net purchases. “A strong activity of importers has been observed, which has accelerated in recent days,” they say in the market.
Analyst Gustavo Quintana assured that “Logistical complications delay the impact of the new grain harvest on the market and reduce the official objective of exhibiting a large amount of reserve purchases this month, something that seems only to be seen in the coming months.”
In that framework, the retail dollar -without taxes- increased 29 cents this Wednesday, April 12, 2022, and closed at $118.39, according to the average in the main banks of the financial system. In turn, the retail value of the ticket in the Banco Nación raised 25 cents to $118.
Consequently, the solidarity dollar -which includes 30% of the PAÍS tax and 35% deductible of profits- rose 47 cents to $195.34 on average, thus surpassing the blue level, for the first time since June 2021.
While the wholesale dollar, directly regulated by the BCRA, it rose 21 cents to $112.97. In the short week, the wholesale exchange rate rose 81 cents, below the total correction of the previous week, but with the caveat that this adjustment was made in only three trading days.
The blue dollar closed stable at $195according to a survey carried out by Ámbito in the Foreign Exchange Black Market. The parallel dollar finished for the eighth consecutive day under $200and was at its lowest level since last October.
Thus, the gap with the official wholesale dollar it ended at 72.6%.
More news about the Blue Dollar and the Dollar
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Source: Ambito
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